Hazlett Burt & Watson Inc. Sells 789 Shares of Pfizer Inc. (NYSE:PFE)

Hazlett Burt & Watson Inc. decreased its position in shares of Pfizer Inc. (NYSE:PFE) by 4.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,479 shares of the biopharmaceutical company’s stock after selling 789 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Pfizer were worth $451,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its position in Pfizer by 3.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after purchasing an additional 2,241,609 shares during the period. Van ECK Associates Corp increased its holdings in Pfizer by 2.8% during the third quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock valued at $477,929,000 after buying an additional 456,168 shares during the period. Federated Hermes Inc. raised its stake in Pfizer by 3.3% in the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after buying an additional 470,003 shares in the last quarter. National Pension Service lifted its holdings in Pfizer by 18.1% during the third quarter. National Pension Service now owns 11,516,769 shares of the biopharmaceutical company’s stock worth $333,295,000 after buying an additional 1,762,520 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Pfizer by 2.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock valued at $287,077,000 after acquiring an additional 238,850 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PFE. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. UBS Group lifted their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. Finally, Barclays boosted their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.58.

Insider Activity

In other news, Director Scott Gottlieb purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $282,400. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Pfizer Stock Performance

NYSE:PFE traded down $0.20 during midday trading on Monday, hitting $27.89. The company’s stock had a trading volume of 12,198,207 shares, compared to its average volume of 37,139,688. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $31.54. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The firm has a market cap of $158.04 billion, a P/E ratio of 37.74, a P/E/G ratio of 0.90 and a beta of 0.67. The firm’s 50 day moving average is $29.03 and its 200-day moving average is $28.62.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.40% and a net margin of 7.07%. The business had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. During the same quarter last year, the business posted ($0.17) EPS. The company’s revenue was up 31.2% on a year-over-year basis. Equities analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.02%. Pfizer’s payout ratio is 227.03%.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.